SUFFOLK COUNTY BREAKS ANOTHER FINANCIAL RECORD  

$113 MILLION SHORT TERM BORROWING NETS INTEREST RATE OF .39%

Hauppauge , New York --Suffolk County Comptroller Joseph Sawicki, Jr. announced today
the successful sale of $113 million in Tax Anticipation Notes (TANs), $17.5 million in Bond
Anticipation Notes (BANs) and $158.2 million in long term Public Improvement Serial Bonds. 

The County made history with the $113 million TAN borrowing by obtaining a record low
interest rate of .39 percent.  The TAN proceeds will provide cash flow in anticipation of the
receipt of delinquent property taxes and will be repaid in September 2010.  “These are the
lowest rates received in County history”, said Sawicki.  He continued, “Once again the
County’s superior credit ratings attracted numerous bidders which resulted in lower interest
rates and significant cost savings for SuffolkCounty residents”.

The issue of $17.5 million in BANs also attracted numerous bidders resulting in the receipt of
a low interest rate of .437 percent.  The proceeds from the BANs will be used to finance
various highway projects and will ultimately be paid for with both Federal stimulus funds and
other Federal and State aid.

The $158.2 million in long term Public Improvement Serial Bonds will carry a net interest rate
of 3.92%, which is a full percentage lower than was paid on the County’s bonds last year,
and will be fully repaid in nineteen years.  $30.5 million of this issue will be used to pay for
the construction of the new County jail in Yaphank, $55 million will be used for open space
acquisitions under the ¼% Drinking Water Protection Program and the remaining $72.7 million
will be for various capital improvements. 

Comptroller Sawicki stated, “I am happy to report some good news for Suffolk taxpayers for
a change as they have been hit by Albany this year with a host of new taxes and fees,
including $10 for a salt water fishing license, steep increases in driver’s license renewal and
vehicle registration fees and repercussions from the newly imposed MTA tax on all employers.”